Puts Bought on Akamai Tech (AKAM)

Register for the LA Trader's Expo for Free Here! Shares of Akamai Technologies Inc. AKAM are higher on the session by 0.46%, currently trading $39.68. The stock has been on an amazing run higher over the past six months, outperforming the overall market, but it appears to be having trouble around the $40 level. Protection is being bought on the name today with the June $40 puts purchased on the offer 4,000 times for $2.00. Open interest on the strike was 2,099 contracts, indicating fresh bear positioning. It is likely that this is a hedge to long shares as it is slightly in-the-money. Akamai Technologies, Inc. provides services for accelerating and improving the delivery of content and applications over the Internet.